Manager Member Financial Strategies

Manager, Member Financial Strategies

At the Federal Home Loan Bank of Chicago, employees come first - that's why we offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees.

Our mission at FHLBank Chicago: To partner with our members in Illinois and Wisconsin to provide them competitively priced funding, a reasonable return on their investment, and support for their community investment activities.

Simply said, we're a bank for banks and other financial institutions, focused on being a strategic partner for our members and working together to reinvest in our communities, from urban centers to rural areas. Created by Congress in 1932, FHLBank Chicago is one of 11 Federal Home Loan Banks, government sponsored in support of mortgage lending and community investment.

What it's like to work here:

At FHLBank Chicago, we bring people together. We are committed to a high performing, engaged workforce, and to supporting the communities we serve across Illinois and Wisconsin. Our Buddy Program pairs new hires with tenured employees to guide their onboarding. Our professional development and training opportunities through upskilling, mentorship programs, and tuition reimbursement allow employees to grow their career with us. Our collaborative, in-office operating model brings teams together to foster innovation, connection, and shared success. To support balance and flexibility, employees are provided an allocation of remote days to use as needed throughout the year.

What you'll do:

The Manager, Member Financial Strategies is a senior advisory leader responsible for helping FHLBank Chicago's depository members (clients consisting of community banks, thrifts, and credit unions across Illinois and Wisconsin) optimize balance sheet performance, manage interest rate risk, and build effective funding and hedging strategies. This role combines deep expertise in asset/liability management (ALM) and rate markets with a strong client-facing orientation, delivering decision-ready insights to CFOs, Treasurers, and ALCOs.

The Manager leads and develops a team of analysts, setting priorities, coaching team members on interest rate risk, liability pricing, and funding market dynamics, and personally owning the development and delivery of member-facing content, including whitepapers, FHLBank product relative value analyses, and executive strategy presentations.

This position sits within the Member Financial Strategies team and reports to the Managing Director of Member Financial Strategies, with cross-functional engagement spanning Sales, Customer Insights, Treasury, Product Development, and Risk teams.

How you'll make an impact:

• Elevate member strategy and customer experience by delivering decision-ready insights to CFO's and Treasurers.
• Drive thought leadership and innovative solutions to support financial institutions and local communities.
• Cultivate internal talent and deepen institutional knowledge.

What you can expect:

Member Balance Sheet Strategy & Advisory

• Advise members on holistic balance sheet positioning across rate environments, translating macroeconomic outlook into specific funding, hedging, and liability management actions
• Map member liability structures and interest rate risk profiles to specific product solutions, with clear articulation of risk/return trade-offs and implementation considerations
• Lead structured member product forecasts integrating balance sheet trends, product usage data, and sales input to identify actionable funding and hedging opportunities
• Develop member-specific analyses addressing net interest margin (NIM) compression, deposit repricing, liability extension, liquidity positioning, investment funding, and capital efficiency
• Conduct ongoing relative value analysis across the Bank's product suite, evaluating cost of funds, duration, optionality, and risk characteristics relative to member balance sheet objectives
• Advise on duration positioning, hedging strategies (including interest rate derivatives and swaps), and asset/liability mix optimization
• Analyze net interest income (NII), economic value of equity (EVE), and earnings at risk to frame risk/return trade-offs for member decision-makers
• Frame and monitor pricing of FHLBank products against core deposits, brokered CDs, other competitive sources of wholesale funding, and liquidity needs of members
• Monitor deposit flows, loan demand, wholesale funding patterns, and investment portfolio behavior and incorporate findings into solution designs and member targeting

Market Intelligence & Thought Leadership

• Monitor rate markets, Fed policy, credit spreads, and funding market dynamics to generate timely, actionable perspectives for members and internal stakeholders
• Author and publish whitepapers, market commentary, and strategy briefs on topics such as NIM compression, deposit repricing, liability extension strategies, loan portfolio hedging, and regulatory capital impacts
• Track regulatory developments, including liquidity requirements (LCR, NSFR), capital framework changes (Basel III), FHLB membership rules, and payment system evolution, and translate their implications for member funding and hedging strategies

Executive Communication & Member Engagement

• Prepare and present board- and executive-ready strategy briefings, market outlooks, and solution recommendations for senior member leadership and internal Bank audiences
• Partner with Sales Directors to deliver targeted member insights and solution content in a timely, actionable format that supports proactive member engagement
• Clearly articulate the strategic rationale behind solution recommendations, including risk/return trade-offs, member impact, and alignment with the Bank's mission
• Align with Customer Insights and Customer Experience teams to channel member feedback and behavioral data into concrete solution development

Team Leadership & Talent Development

• Directly manage a team of analysts: set priorities, allocate workloads, and maintain high standards of analytical rigor across the group
• Serve as a dedicated technical mentor, coaching team members on interest rate risk measurement, bond pricing dynamics, and funding market strategies through structured development opportunities
• Design training curricula and progressive development plans to build durable balance sheet and markets expertise within the team
• Review and quality-control all team outputs prior to distribution—including member-facing materials, internal analyses, and data-driven reports

What you'll bring:

• Bachelor's degree in Finance, Economics, Mathematics, or a related quantitative field. Advanced degree (MBA, MS Finance) or relevant professional certification (CFA, FRM, CTP) preferred.
• 7+ years of professional experience in financial markets, asset/liability management, fixed income strategy, or institutional investment advisory, including 1–3 years of people leadership experience
• Proven track record of developing high-quality, market-facing analytical content—whitepapers, strategy presentations, relative value analyses—for institutional audiences.
• Prior experience managing or mentoring junior analysts in a markets or strategy context.
• Background in a client-facing advisory role at a broker-dealer, FLHBank, regional/national bank, or financial consulting firm with institutional depository clients.
• Deep understanding of depository balance sheet management, including liability structuring, hedging with interest rate derivatives, investment portfolio construction, and rates/credit market dynamics. Ability to synthesize market data into actionable member guidance.
• Ability to map depository institution liability profiles and strategic objectives to specific funding and hedging solutions, with a clear articulation of the risk/return trade-offs and implementation considerations.
• Proven ability to set direction, manage workloads, and develop talent within an analytical team. Skilled at translating complex market concepts into accessible, high-impact learning experiences for junior professionals.
• Working knowledge of key regulatory frameworks affecting depository institutions, including liquidity requirements (LCR, NSFR), Basel III capital rules
• Exceptional written and verbal communication skills, with demonstrated experience delivering market strategy content to executive and board-level audiences. Ability to distill technical complexity into clear, persuasive narrative.
• Preferred emerging technology awareness: Emerging developments in digital assets, tokenized deposits, and blockchain applications in capital markets and their potential balance sheet implications

The Perks:

At FHLBank Chicago, we believe in rewarding our high performing workforce. We offer a highly competitive compensation and bonus package, and access to a comprehensive benefits program designed to meet the needs of our employees. Our retirement program includes a 401(k) and pension plan. Our wellbeing program supports employees at work and in their personal lives: Our PTO plan provides five weeks of vacation for new employees and 11 paid holidays per year; our Lifestyle Spending Account provides an annual stipend for employees to support wellbeing activities; and our central downtown location at the Old Post Office provides easy access to public transportation and breathtaking views from our award-winning rooftop. Visit FHLBCbenefits.com for additional details about our benefits. Step into a brighter future with us.

Salary Range:

$125,825.00 - $221,275.00

The above represents the expected salary